Full Press Release Details
Turn Therapeutics Reports Third Quarter 2025
Financial Results and Provides Corporate Updates
Successfully began trading on NASDAQ under ticker
TTRX on October 8, 2025
Strengthened its Board of Directors with the
appointments of Arthur Golden and Dr. Kent Kester
Entered into a global supply, development, and
license agreement with leading medical-surgical product manufacturer and distributor Medline
Los Angeles, CA - November 13, 2025 - Turn
Therapeutics Inc. (Nasdaq: TTRX), a clinical-stage biotechnology company developing dermatologic, advanced wound, and infectious
disease therapies, today reported financial results for the third quarter ended September
30, 2025, and provided corporate updates.
"Our first weeks as a public company have been extremely productive,
and our continued execution brings us closer to achieving our immediate strategic goal of developing a portfolio of potential best-in-class
products in eczema and onychomycosis," said Bradley Burnam, Founder and Chief Executive Officer of Turn Therapeutics. "We
look forward to seeing data from our lead program in moderate to severe eczema in early 2026, which will inform our development pathway.
At the same time, we continue to develop global relationships to leverage our PermaFusion platform technology and have entered into
an exciting license, supply, and distribution agreement with Medline, the largest provider of medical-surgical products and supply chain
solutions serving all points of care. Partnerships like this will generate revenues for us without significant capital investment. This
revenue will allow us to offset some of the costs, given our modest burn rate, as we focus our internal efforts on high-value drug development
Mr. Burnam continued, "We have also been steadily strengthening
our Board and executive team and have added two new Board members and a capital markets veteran as Vice President of Corporate Communications
recently. We will continue to add to our team ensuring we are positioned to capitalize on our near and long-term opportunities."
Third Quarter 2025 Financial
Turn Therapeutics Inc.
Condensed Consolidated Statements of Operations
(Unaudited; in US Dollars)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating expenses: | ||||||||||||||||
| General and administrative | $ | 1,754,856 | $ | 519,710 | $ | 3,434,442 | $ | 1,231,977 | ||||||||
| Research and development | 158,699 | 153,282 | 230,636 | 236,190 | ||||||||||||
| Total operating expenses | 1,913,555 | 672,992 | 3,665,078 | 1,468,167 | ||||||||||||
| Loss from operations | (1,913,555 | ) | (672,992 | ) | (3,665,078 | ) | (1,468,167 | ) | ||||||||
| Other income: | ||||||||||||||||
| Interest income | 5,111 | 6,550 | 15,408 | 22,882 | ||||||||||||
| Other income | 4,260 | - | 176,520 | - | ||||||||||||
| Total other income | 9,371 | 6,550 | 191,928 | 22,882 | ||||||||||||
| NET LOSS | $ | (1,904,184 | ) | $ | (666,442 | ) | $ | (3,473,150 | ) | $ | (1,445,285 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.07 | ) | $ | (0.03 | ) | $ | (0.13 | ) | $ | (0.05 | ) | ||||
| Weighted-average common shares outstanding, basic and diluted | 27,975,207 | 26,645,835 | 27,479,246 | 26,546,840 |
Turn Therapeutics Inc.
Selected Balance Sheet Data
(Unaudited; in US Dollars)
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Cash and cash equivalents | $ | 3,106,157 | $ | 872,599 | ||||
| Total assets | 4,297,630 | 2,048,889 | ||||||
| Total liabilities | 3,793,611 | 2,226,321 | ||||||
| Total stockholders' equity (deficit) | 504,019 | (177,432 | ) |
About Turn Therapeutics
Turn Therapeutics is a biotechnology company developing and commercializing
products for dermatology, wound care, and infectious disease. The Company has received three FDA clearances for its proprietary wound
and dermatology formulations and is advancing late-stage clinical programs in eczema and onychomycosis. In addition, Turn is pursuing
global health initiatives in thermostable vaccine delivery designed to serve underserved areas worldwide, reflecting its commitment to
public health innovation.
Forward-Looking Statement
in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements.
Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe,"
"contemplate," "could," "estimate," "expect," "intend," "seek,"
"may," "might," "plan," "potential," "predict," "project," "suggest,"
"target," "aim," "should," "will," "would," or the negative of these words
or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on
Turn's current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict, including
risks related to the timing and effectiveness of the Company's registration statement, the success of development programs, and
the Company's ability to execute its strategic plan. Further, certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results
to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Turn Therapeutics in
general, see the risk disclosures in the Company's filings with the SEC. All such forward-looking statements speak only as of the
date they are made, and Turn undertakes no obligation to update or revise these statements, whether as a result of new information, future
events, or otherwise.
Monique Kosse, Managing Director